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20121222
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but the debate over the deficit and the debt that is behind this? >> well, if you go back to 2001 and thereafter, the cost of the war was not included in the budget except the military and the defense budget. but the additional costs were not reflected in the budget. there were always supplementals. so they didn't show as a deficit. a vendor ackley to the debt. so while the budgets were reasonable in that period of time, the actual spending didn't show in the budget and people didn't pay as much attention to the debt as they do today because it kept mounting and so we borrowed to pay for the war and in fact we didn't ask people to make sacrifices financially. >> there is a difference between borrowing in the future, paying for work and paying back words, we are having to pay right now. people might have felt differently if they had felt the pinch right at that time. we would have asked different questions and were asked, and i think that is one of the reasons we got where we are. and it's where we are. >> on appropriations could you have been any more vocal about it to provide us getting into t
a $6 billion surplus when it comes to exporting services, and a huge deficit when it comes to manufacturing. so the -- the finance done correctly which is figuring out how to mamp capital with good -- match capital with good ideas is important and having complex innovations in that is important for america's system. the problem is short termism, short term thinking, where finance comes come in and bankrupt companies for short term gain rather than thinking what's the viable, long term model of a long term rate of return? i think that has to do with corporate governance laws for incentives and structures that don't require -- that incentivize managers to make long term decisions rather than maximizing just the quarterly shareholders' profits. >> did you see the incentives that could be changed to emphasize smallness rather than bigness? >> absolutely, and i thinking the -- a lot of the department of commerce is programmed to help small and medium sized businesses. there is the best -- i took 50% of the jobs in manufacturing are small and medium sized companies, and small com
of extremists in terms of our debt and deficit, that we're going to all of a sudden change that? and why are we changing that? especially since most of this money isn't going to be spent, isn't even going to be initialized for at least two years. i'd ask unanimous consent that that amendment be set aside and amendment 3370 be called up. the presiding officer: without objection. the clerk will report. the clerk: the senator from oklahoma, mr. coburn, for himself and mr. mccain, proposes an amendment numbered 3370, as modified. mr. coburn: i'd ask unanimous consent the amendment be considered as read. the presiding officer: without objection. mr. coburn: and per the request of senator schumer, i put a division in this amendment so we would have two votes on it separating out the fisheries because he thought that was important. i was glad to accommodate his needs. the main -- mr. schumer: will the gentleman yield? mr. coburn: i would be happy to. mr. schumer: i just want to thank him, he was gracious. there are two separate issues here, one of them i think most of us on this side would accept. the
Search Results 0 to 2 of about 3